Grande secures placement

The Hong Kong electronics manufacturer completes a top-up placement.

CLSA completed a 40 million share placement in Grande Holdings after Tuesday's close, raising $72.8 million net of the lead's 2% fee. The transaction represented a sell-down by majority shareholder Christopher Ho, who reduced his stake from 70.5% to 65.6% on completion of the deal.

A total of 60 million shares were issued by the company, but 20 million were purchased by Ho to avoid dilution, with the remaining 40 million placed with a total of 25 investors,...